MOVERS PROVIDE TIPS ON DEDUCTING COSTS OF RELOCATION IN ATLANTA, GA, FROM TAXES
If you are hiring movers, or moving yourself, due to a job relocation in or out of the Atlanta, Georgia, area, then some of your moving costs may be tax deductible. The IRS allows for the cost of movers and other expenses to be deducted if three criteria are met: your move takes place within a year of starting a new job near that location, your new job is more than 50 miles farther than your previous job was from your previous home, and you remain at your new job as a full-time employee for 39 weeks.
If you meet these requirements, then here are some of the costs of your move in or out of Atlanta that can be deducted from your taxes:
- The costs of packing, crating, and transporting your belongings to their destinations. This includes packing materials purchased, as well as the cost of movers or renting a van.
- Traveling costs from your current home to your destination, such as transportation taken or lodging needed along the way. Keep in mind that only the cost for the shortest, most direct route will count towards a deduction.
- Even if you hire movers to transport most of your belongings, as long as you transport yourself, members of your household, or any personal items to your new home in your personal vehicle, you can deduct the expenses of gas and oil. The standard mileage rate changes annually, so check the current tax code for this year’s rate.
If you have any questions regarding the deduction of movers and other relocation expenses, consult a tax professional.
Buckhead Movers has assisted with long distance moves in and out of the Atlanta, GA, area, since 1985. We will gladly provide you with a detailed breakdown of all costs, which can be submitted with your tax paperwork. To learn more, contact Buckhead Movers today.